Corebridge Financial Inc. Buys 1,685 Shares of Insmed Incorporated (NASDAQ:INSM)

Corebridge Financial Inc. grew its stake in Insmed Incorporated (NASDAQ:INSM) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,719 shares of the biopharmaceutical company’s stock after purchasing an additional 1,685 shares during the quarter. Corebridge Financial Inc.’s holdings in Insmed were worth $5,918,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC raised its position in Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 163 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 248 shares during the last quarter. Spire Wealth Management purchased a new stake in shares of Insmed in the fourth quarter valued at about $47,000. Smartleaf Asset Management LLC lifted its position in shares of Insmed by 98.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 411 shares in the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Insmed in the 4th quarter worth about $86,000.

Insmed Trading Up 0.4 %

Shares of INSM stock opened at $77.99 on Friday. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of -13.95 and a beta of 1.28. The company’s fifty day simple moving average is $78.18 and its two-hundred day simple moving average is $73.99. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $84.91. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. As a group, analysts anticipate that Insmed Incorporated will post -4.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on INSM shares. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. Truist Financial boosted their price objective on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 target price on shares of Insmed in a research report on Wednesday, March 19th. UBS Group boosted their price target on shares of Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Stifel Nicolaus decreased their price objective on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Insider Transactions at Insmed

In related news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the sale, the insider now directly owns 102,766 shares in the company, valued at approximately $6,773,307.06. The trade was a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 550,957 shares of company stock valued at $42,992,528. 4.60% of the stock is currently owned by corporate insiders.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.